Graco Inc.

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SEC Filings

10-K
GRACO INC filed this Form 10-K on 02/21/2017
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Amounts recognized in other comprehensive (income) loss in 2016 and 2015 were as follows (in thousands):
 
Pension Benefits
 
Postretirement Medical Benefits
 
2016
 
2015
 
2016
 
2015
Net loss (gain) arising during the period
$
17,208

 
$
(833
)
 
$
2,840

 
$
14

Prior service cost (credit) arising during the period

 
(179
)
 

 

Amortization of net gain (loss)
(7,980
)
 
(9,036
)
 
(285
)
 
(323
)
Settlement gain (loss)
(1,565
)
 
(423
)
 

 

Amortization of prior service credit (cost)
(269
)
 
(268
)
 
766

 
676

Total
$
7,394

 
$
(10,739
)
 
$
3,321

 
$
367


Amounts included in accumulated other comprehensive (income) loss as of December 30, 2016 and December 25, 2015, that had not yet been recognized as components of net periodic benefit cost, were as follows (in thousands):
 
Pension Benefits
 
Postretirement Medical Benefits
 
2016
 
2015
 
2016
 
2015
Prior service cost (credit)
$
1,920

 
$
2,232

 
$
(344
)
 
$
(1,110
)
Net loss
108,689

 
100,985

 
6,593

 
4,038

Net before income taxes
110,609

 
103,217

 
6,249

 
2,928

Income taxes
(38,182
)
 
(35,169
)
 
(2,250
)
 
(1,054
)
Net
$
72,427

 
$
68,048

 
$
3,999

 
$
1,874


Amounts included in accumulated other comprehensive (income) loss that are expected to be recognized as components of net periodic benefit cost in 2017 were as follows (in thousands): 
 
Pension
Benefits
 
Postretirement
Medical Benefits
Prior service cost (credit)
$
245

 
$
(344
)
Net loss (gain)
8,803

 
543

Net before income taxes
9,048

 
199

Income taxes
(3,257
)
 
(72
)
Net
$
5,791

 
$
127


Assumptions used to determine the Company’s benefit obligations are shown below:
 
 
Pension Benefits
 
Postretirement Medical Benefits
Weighted average assumptions
 
2016
 
2015
 
2016
 
2015
U.S. Plans
 
 
 
 
 
 
 
 
Discount rate
 
4.5
%
 
4.7
%
 
4.5
%
 
4.7
%
Rate of compensation increase
 
2.8
%
 
3.0
%
 
N/A

 
N/A

Non-U.S. Plans
 
 
 
 
 
 
 
 
Discount rate
 
0.9
%
 
1.1
%
 
N/A

 
N/A

Rate of compensation increase
 
1.0
%
 
1.3
%
 
N/A

 
N/A



50

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